On the heels of the report that Liverpool are the 5th highest spending Premier League team when it comes to player-wages, today LFC announced a loss of a staggering £50 million over the course of this past year. This comes as a gut wrenching development (although not a complete surprise) for us Liverpool fans who are still trying to wash the taste of the Hicks and Gillette dictatorship out of our mouths. What makes this even worse is how it reminds us how the amount of money spent on players this year has not, in any way, translated to on-pitch performance.